WASHINGTON — Chair Jerome Powell said Monday that the Federal Reserve would raise its benchmark short-term interest rate faster than expected, and high enough to restrain growth and hiring, if it decides this would be necessary to slow rampaging inflation. Powell’s message was more ...
Stocks recovered from an early slide on Wall Street and closed broadly higher Friday, notching their biggest weekly gain in 16 months. The S&P 500 rose for the fourth straight day, adding 1.2 percent to a streak that included back-to-back days with gains of 2 percent. The Dow Jones Industrial Average rose 0.8 percent, while the Nasdaq composite rose 2 percent. The three indexes each had their best week since November 2020. This week’s market rally came as Wall Street drew encouragement from the Federal Reserve, which announced its first interest rate hike since 2018 and signaled ...
NEW YORK — Wall Street extended a rally into a third day Thursday, even as oil prices jump back above $100, upping the pressure on inflation. The S&P 500 rose 1.2 percent, with more than 80 percent of the stocks in the benchmark index closing higher. That follows gains of more than 2 ...
WASHINGTON — The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year. The Fed’s quarter-point hike in its key rate, which it had ...
WASHINGTON — President Joe Biden marked Equal Pay Day on Tuesday by spotlighting new steps aimed at closing the gender pay gap for federal workers and contractors. And he urged private companies to do likewise. Biden signed an Equal Pay Day executive order that encourages — but does not ...
WASHINGTON — A $13.6 billion emergency package of military and humanitarian aid for besieged Ukraine and its European allies easily won final congressional approval Thursday, hitching a ride on a government-wide spending bill that’s five months late but loaded with political prizes for ...
